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Excerpt
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Find out about Use Renew Binding Period ;to renew an expired contract

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Table of Contents

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2

When to use Renew Binding Period

Contracts are made for a specified period of time. Once the contract is expired, i.e. Binding End Date is in the past then the contract can be renewed. To do so, the action Renew Binding Period can be used. This action will restart the contract from the date of execution and update binding end date accordingly.Use the Renew Binding Period Classification to renew an expired contract by setting the Binding End Date to the new date on which the contract should expire.

View the Information Table below for information related to the Scheduling, Preview Rating and Classification of the Subscription Action. Check the Validations & Restrictions Table for a list of available Actions, including each Action's related validations, restrictions, additional information and a description of its system process.
View 'Using the Subscription Action Modal' available in Managing Subscriptions for more information on executing the Action.

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Renew Binding Period Information

Subscription Action Information

(tick)AMENDBILLINGTERMS
Action can be scheduledPreview Rate AvailableBehavior CodeBusiness Classification Code
(tick)(error)AMENDBILLINGTERMSRENEWEDBINDINGPERIODTERMS

 

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Restrictions & Validations

specified billing term frequency is within the allowed billing frequencies
  • The specified binding period is within the allowed binding periods
    • ActionValidationsRestrictionsAdditional InformationSystem Processing
    Renew Binding Period
    • The rules defined in the related billing term scheme are not violated
      • Concurrent usage based pricing rules are not violated
      • The specified billing term frequency is within the allowed billing frequencies
      • The specified binding period is within the allowed binding periods
      • The specified price plan is within the allowed price plans
      • The effective subscription services are within the supported services
    • The rules defined in the active billing term definitions are not violated
      Billing term Active Billing Term Definition rules are not breached.
      1. Billing Term amendment rules are not
      violated
      1. breached.
    • The
    • The action is Action is not allowed if another scheduled billing terms action Amend Billing Terms Action exists. You will be allowed to schedule the renewing of the Binding Period only after the scheduled actionAction.
    • The action Action is available only if the subscription has Subscription is in one of the following Life Cycle States:
      • Draft
      • Effective
      • Not Effective
      • In Resting

     

    Executing Renew Binding Period

  • Navigate to BILLING APPLICATION > BILLING > SUBSCRIPTIONS > MANAGE SUBSCRIPTIONS
  • Search for the Subscription you are looking for, using the criteria section
  • Click on the Subscription number to go to the Data Entry page of the subscription
  • On the left hand side of the screen you can see the ACTION PANEL
  • Click on Subscription Related Actions to expand 
  • Find the action you would like to execute and click on the link to open the action details in a modal window
    RENEW BINDING PERIODImage Removed 

  • Classification: Renew Binding Period

    • You have the option to make the following changes
  • Binding Period: Read Only: the Binding Period of the contract
  • Binding Start: Read Only: the renewal date of the contract
    • Binding End: Read Only:the new expiration date of the contractAgreement Date: Click on the Calendar icon and select the date, that the contract change has been agreed
    No matter what the Agreement Date is, the Binding start
    • Agreement Date: Regardless of the Agreement Date, the Binding Start will be set to the date of the execution. The Agreement
    date
    • Date only defines the date
    that
    • on which the contract was signed
    . 

    RENEW BINDING PERIODImage Removed

  • If required check the following sections for information 

    1. EXISTING BILLING TERMS

      1. Provides an overview of the existing billing terms

    2. UNSETTLED BILLS

      1. Provides an overview of any Bills related to the subscription and have not yet been settled

    • SUBSCRIPTION ACTION DETAILS

  • Action Type: Select action type from the drop down if you have configured custom actions in the system, using the specific behaviour code
  • Sub Action Type: Select action type from the drop down if you have configured custom actions in the system, using the specific business classification code
    Action Type and Sub Action type are visible only if applicable
  • Performed By User : Search and add the user that logs the action 
    If you leave empty then the Logged in user will be set

  • Performed Date: Click on the calendar icon and select date and time

    • SCHEDULING INFORMATION

    InfoIf another scheduled Amend Billing Terms action exists, then you are not allowed to execute the action now
    • .
    You are allowed however, to schedule the action after the execution of the current scheduled action
    •  
    Include PageScheduling Subscription action - GlobalScheduling Subscription action - Global
  • Click on "SUBMIT"
    Action will be validated as provided in the section above and submitted if validations are passed
    • AnchorprocessingprocessingSystem Processing

    Once the action is submitted the following changes will be carried out by the system:

    A new billing term instance
    • A new Billing Term instance which replicates the previous one
    having the binding term renewed
    • and has identical binding terms is created and activated.
    • The
    binding start
    • Binding Start date is set to the date of execution and the
    binding end
    • Binding End date is set equal to the
    binding start
    • Binding Start date plus the
    binding period
  • The existing billing term is replaced and set to inactive
  • The new billing term is set to active
    • Binding Period.
    • The existing Billing Term is replaced and set to 'Inactive'.
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